Question

Marginal utility is defined as the A. change in total utility a person derives from the consumption of a good divided by the change in the quantity of the good consumed B. change in total utility a person derives from the consumption of a good divided by the price of that good C. change in total utility a person derives from the consumption of a good divided by the value in use of that good D. change in marginal utility a person derives from the consumption of a good E. sum of the amounts of satisfaction a person receives from consuming a good Reset Selection

Answer 1

Answer:

The correct answer is letter "A": change in total utility a person derives from the consumption of a good divided by the change in the quantity of the good consumed.

Explanation:

Marginal Utility refers to the additional benefit or satisfaction obtained by consuming another unit of a good or service. Something has utility in economics if it meets certain user desires or needs, whether for use or pleasure. It varies from point of view to point of view.